UK leads 12-state rebellion against EC hedge fund rules

Telegraph – Germany, Holland, Sweden and Austria are among 12 signatories of a strongly worded complaint, seen by The Daily Telegraph, about the EC’s “opaque” handling of controversial hedge fund rules.

The 12 member states, including the UK, claim that the EC ignored technical advice from European and national regulators – “without explanation” – and passed the Alternative Investment Managers Directive (AIFM) in its own way.